LendingTree, a financial technology firm based in Charlotte since 1998, is doubling the size of its online financing unit with 314 new jobs and a $47 million investment planned over the next five years.
Charlotte recently lost out on planned expansions by PayPal and another company due to controversy over the HB2 legislation that critics see as discriminatory against the lesbian, gay, bisexual and transgender community.
LendingTree will receive nearly $5 million in North Carolina payroll tax rebates assuming employee target milestones are met and a matching amount of incentives is agreed to by the City of Charlotte and Mecklenburg County.
“LendingTree, a company who twenty years ago pioneered online financial technology, continues to bring innovative solutions to the lending process for both consumers and lenders,” said Doug Lebda, the founder and CEO of LendingTree, in the announcement.
“We now have over 360 employees, split primarily between our North Carolina headquarters and our office in California, have been named as one of Fortune Magazine’s top ten fastest-growing companies in the world, and the best-run public company in North Carolina by the Charlotte Business Journal. Our growth trajectory further emphasizes our ever-expanding need for top technology, design and analytics talent. And after a very thorough process, we are absolutely certain that Charlotte and the state of North Carolina remain the indisputable location to expand our footprint and advance our leadership position within the FinTech industry.”
LendingTree works with more than 400 companies to offer a variety of financing for homes, credit cards and student loans.
The company says it plans to build a new headquarters campus in Charlotte.
Jobs will include “technology experts, marketing and customer service representatives among other personnel” with an average compensation of $81,857, according to the North Carolina Department of Commerce.That’s some $20,000 more than the current averages in Mecklenburg County, according to department.
“North Carolina is the intersection of finance and technology, and LendingTree’s expanded headquarters campus just made that intersection even busier,” said Commerce Secretary John Skvarla. “This innovative company provides valuable financial tools for U.S. consumers, and the Charlotte Region will continue to be an integral part of their success.”
